Geode Capital Management LLC increased its holdings in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 7.8% in the first quarter, Holdings Channel.com reports. The firm owned 1,209,426 shares of the bank’s stock after purchasing an additional 87,236 shares during the quarter. Geode Capital Management LLC’s holdings in Brookline Bancorp were worth $13,642,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Brookline Bancorp in the fourth quarter valued at about $15,224,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Brookline Bancorp by 7.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,750,026 shares of the bank’s stock worth $31,020,000 after buying an additional 202,083 shares in the last quarter. Martingale Asset Management L P raised its position in Brookline Bancorp by 230.6% in the 1st quarter. Martingale Asset Management L P now owns 250,908 shares of the bank’s stock valued at $2,831,000 after buying an additional 175,008 shares during the last quarter. State Street Corp boosted its position in Brookline Bancorp by 5.5% during the 1st quarter. State Street Corp now owns 2,787,247 shares of the bank’s stock worth $31,440,000 after acquiring an additional 145,044 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Brookline Bancorp by 7.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,959,600 shares of the bank’s stock worth $32,255,000 after acquiring an additional 138,960 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
A number of equities analysts recently weighed in on BRKL shares. TheStreet downgraded shares of Brookline Bancorp from a “b-” rating to a “c+” rating in a report on Monday, March 16th. DA Davidson started coverage on shares of Brookline Bancorp in a report on Monday, June 15th. They set a “buy” rating on the stock. BidaskClub upgraded shares of Brookline Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 17th. Finally, Compass Point upgraded shares of Brookline Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.00.
In other Brookline Bancorp news, CFO Carl M. Carlson bought 3,000 shares of Brookline Bancorp stock in a transaction dated Monday, May 4th. The stock was bought at an average price of $9.11 per share, with a total value of $27,330.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Hollister bought 7,000 shares of Brookline Bancorp stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $9.18 per share, with a total value of $64,260.00. Over the last quarter, insiders acquired 15,000 shares of company stock worth $134,440. Corporate insiders own 2.59% of the company’s stock.
NASDAQ:BRKL opened at $9.89 on Wednesday. Brookline Bancorp, Inc. has a one year low of $8.13 and a one year high of $16.96. The company has a market cap of $734.74 million, a P/E ratio of 16.48 and a beta of 0.75. The firm’s fifty day moving average price is $9.48 and its two-hundred day moving average price is $12.65. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.14 and a quick ratio of 1.14.
Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, April 29th. The bank reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.45). Brookline Bancorp had a net margin of 12.67% and a return on equity of 5.15%. The company had revenue of $71.04 million during the quarter, compared to analyst estimates of $70.56 million. As a group, equities research analysts expect that Brookline Bancorp, Inc. will post 0.3 earnings per share for the current year.
About Brookline Bancorp
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts, as well as commercial, municipal, and retail deposits.
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